Lending figures point to a moderating housing market

August 7th,2015

The latest housing finance figures released today by the Australian Bureau of Statistics (ABS) reflect declining lending activity.

The Real Estate Institute of Australia (REIA) says the figures for June 2015 show, in trend terms, that the number of owner-occupied finance commitments fell by 0.6 per cent. This fall is the third consecutive monthly fall and follows eleven months of increases. If refinancing is excluded, in trend terms for June, the number of owner-occupied finance commitments fell by 1.0 per cent.

REIA President, Neville Sanders says, “Decreases were recorded in all states and territories except the Australian Capital Territory and Queensland. The Australian Capital Territory increased by 0.3 per cent and Queensland remained flat. The largest decrease was recorded in Tasmania – down 2.0 per cent.”